Choosing the Best Group Benefits Plan for Your Employees

Choosing the Best Group Benefits Plan for Your Employees

There’s power in numbers, and that’s certainly true when providing group home and auto insurance for your employees in Alberta. Group home and auto insurance allows your employees to access insurance at discounted rates, find the coverage they need, and may even provide exclusive benefits.

The Benefits of Group Home and Auto Insurance

Offering group insurance has many financial benefits, and doesn’t require a major financial investment on the part of the employer. The purchasing power of a group gives your employees access to preferred rates for home and auto insurance, without requiring every member of the group to opt in. In addition to home and auto insurance, you can also access special benefits like rental car insurancemotorhome insurancetravel insurance>life insurance. So there are quite a few options for meeting the unique needs of your group.

Understanding the Importance of Home Insurance

Not every employee will have a lot of experience shopping for insurance, and that’s okay! For young professionals, first-time homeowners, and anyone else new to the world of home insurance, it helps to focus on the fundamentals of home insurance.

  • Home insurance typically covers the most common perils of fire, theft, vandalism, smoke, windstorm, hail etc.
  • Remember that home insurance doesn’t necessarily provide limit of coverage for collectibles, jewellery, or other high value specialty items, but higher limits for valuables are available.
  • The difference between actual cash value (ACV) and replacement cost is important when shopping for home insurance. ACV compensates you for the current value of the item, including depreciation, while replacement cost covers the full cost of replacing the item.

Understanding The Importance of Auto Insurance

Auto insurance will likely be a bit more familiar for most employees, but it still doesn’t hurt to review the basics of auto insurance as well.

  • A good long-term driving record tends to lead to lower auto insurance costs. If you haven’t had an accident or a ticket in awhile, it’s a good idea to review your coverage.
  • Building a good driving record requires safe driving habits, which help avoid accidents and citations over time. The fewer of those events on your record, the better your rates.
  • For newer vehicles with relatively high values, collision insurance is often the way to go. Collision coverage helps cover repairs, or a replacement if the vehicle is totalled.
  • Older vehicles with lower resale value may be a better fit for liability-only coverage, which doesn’t cover repairs to the vehicle.

Bow Valley Insurance

You don’t need to be a big business to take advantage of the benefits of group home and auto insurance. In fact, small businesses are among those who stand to benefit most from group insurance programs. It all starts with one call to us.Our team at Bow Valley Insurance are here to help with all of your group home and auto insurance needs. Simplify your search for the right insurance with a free insurance quote from our experienced brokers.